Pricing Strategies in Marketing

Hello Buddy , I want to know What are the Meaning of Pricing Strategy in Marketing and Types of Same , can you please provide me Details of Same ?

[Shaleen]

A Business Can use a Variety of Pricing Strategies when Selling a Product or Service.

The price can be set to maximize profitability for each unit sold or from the market overall.

One of the four major elements of the marketing mix is price.

Pricing is an important strategic issue because it is related to product positioning. Furthermore, pricing affects other marketing mix elements such as product features, channel decisions, and promotion.

It can be used to defend an existing market from new entrants, to increase market share within a market or to enter a new market.

Businesses may benefit from lowering or raising prices, depending on the needs and behaviors of customers and clients in the particular market.

Finding the Right Pricing Strategy is an Important Element in Running a Successful Business .

Types of Pricing :

Contribution Margin-Based Pricing
Creaming or skimming
Decoy pricing
Freemium
High-low pricing
Limit pricing
Loss leader
Marginal-cost pricing
Market-oriented pricing
Odd pricing’
Penetration pricing
Predatory pricing
Premium decoy pricing
Premium decoy pricing
Psychological pricing
Target pricing business
Target pricing business